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    Binomial probability

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    1. The amounts of money requested on home loan applications at Federal Savings follow the normal distribution, with a mean of $270,000 and a standard deviation of $35,000. A loan application is received this morning. What is the probability:
    a. The amount requested is $270,000 or more?
    b. The amount requested is $300,000 or more?
    c. The amount requested is between $265,000 and $365,000?
    d. The amount requested is $365,000 or more?

    2. Suppose 1.5 percent of the antennas on new Nokia cell phones are defective. For a random sample of 10 antennas, use the binomial distribution to find the probability that:

    a. None of the antennas is defective.
    b. Three or more of the antennas are defective.
    c. At most 3 are defective.
    d. All 10 antennas are defective.

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    Solution Summary

    The solution provides step by step method for the calculation of binomial probability. Formula for the calculation and Interpretations of the results are also included.